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How to prepare statement of cost of good of manufactured

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Reference no: EM132533999

Muleta products company accumulated for the following data for 2005.

                                                                                             Jan 1,2007                  Dec 31 2008

Inventories:

Finished goods---------------------------------------------------$52 000 --------------$54 000

Work in process -------------------------------------------------$29 600 -------------$27 800

Raw materials ---------------------------------------------------$14 200---------------15 000

Direct labor ---------------------------------------------------95 000

Raw materials purchase ------------------------------------------138 000

Indirect labor -------------------------------------------------15 300

Indirect materials and supplies -----------------------------------10 800

Factory utility -------------------------------------------------18 600

Depreciation expense factory -----------------------------------14 000

Factory rent -------------------------------------------------18 000

Pay roll taxes-factory wages -----------------------------------8 100

Insurance expense-Factory -----------------------------------6 800

Sales ----------------------------------------------------710 000

Selling expense --------------------------------------------95 600

General expense ------------------------------------------75 300

Required:

Question 1: Prepare statement of direct materials used.

Question 2: Prepare statement of cost of good of manufactured.

Question 3: Prepare an income statement.

Reference no: EM132533999

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